The Board of Directors of the Arab Bank for Economic Development in Africa (BADEA), held its Third meeting for the year 2004, during the period 29 September to the first of October 2004. The meeting was chaired by H. E. Mr. AHMED ABDALLAH EL AKEIL, Chairman of BADEA’s Board of Directors, and in the presence of H. E. Mr. MEDHAT S. LOTFY, the Director General of the Bank.

The Board reviewed a number of important issues; foremost was the Director General’s report on the Bank’s activities during the period July - October 2004, in addition to a number of financial reports and current status reports of projects.

In the field of financing of projects and technical assistance operations, the Board approved the financing of a new batch of operations for the benefit of several African countries, for a total amount of US $ 30.585 million, out of which US $ 28.90 million was allocated for projects loans, while US $ 1.685 million was earmarked for technical assistance operations.

It is worth noting that by the end of October 2004, BADEA’s total cumulative financial commitments to African countries eligible for its aid, including the new commitments, will reach US $ 2844.643 million.
 

   The approved financing  projects for the benefit of the African Countries